Forex Analysis by MarketPulse (Zain Vawda) covering: USD/CAD, Gold Futures, Crude Oil WTI Futures. Read MarketPulse (Zain Vawda)'s latest article on Investing.com
The USD/CAD pair is declining due to the anticipation of aggressive rate cuts by the US Federal Reserve, which could narrow the interest rate differential between the US and Canada
The Bank of Canada has been contending with slow economic growth and rising unemployment, leading it to initiate rate cuts. Markets are now anticipating 75 basis points in cuts from the BoC and 100 bps from the US Federal Reserve. The BoC has already implemented 50 bps in cuts, so if market predictions hold true, the rate differential could narrow to just 25 bps by the end of the year.
Tomorrow, the Bank of Canada will release its summary of deliberations, offering insights into the Central Bank’s perspectives.
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